HSBC Said Poised to Hire Former Nomura U.K. Banker Barter

William Barter, the former head of U.K. investment banking at Nomura Holdings Inc. is poised to join HSBC Holdings Plc as head of global banking for the U.K., according to two people familiar with the situation. Photographer: Chris Ratcliffe/Bloomberg

Jan. 24 (Bloomberg) -- William Barter, the former head of
U.K. investment banking at Nomura Holdings Inc., is poised to
join HSBC Holdings Plc as head of global banking for the U.K.,
according to two people familiar with the situation.

The role would be a newly created position and a final
decision has yet to be made, one of the people said, declining
to be identified because the plans are private. An HSBC
spokesman was not immediately available for comment.

Barter, who worked on 2012’s biggest takeover, left Nomura
late last year, according to the Financial Services Authority
register. His departure followed a reorganization of the
Japanese firm’s investment bank.

Barter, 46, became head of U.K. investment banking at
Nomura in November 2009 after joining from Citigroup Inc., and
spent his last day at the firm on Dec. 31, according to the FSA
register. He worked on a team advising Xstrata Plc on its
purchase by Glencore International Plc for $33 billion, creating
the world’s fourth-biggest mining company.

Nomura is scaling back its overseas ambitions after buying
Lehman Brothers Holdings Inc.’s European and Asian operations in
2008 -- a purchase intended to underpin a global investment
bank. Since then, the Japanese brokerage has seen the exodus of
former Lehman bankers and other high-profile hires amid losses
posted by Nomura’s foreign operations.

Chief Executive Officer Koji Nagai has promised to cut $1
billion in costs, almost half of which will come from Europe and
the Middle East. Last year, Nomura named Adrian Fisk to be head
of M&A in Europe, the Middle East and Africa, as well as of U.K.
investment banking, as part of the reorganization.